UPD Holding Corp. Announced Execution of Letter of Intent to Acquire Record Street Brewing Co.

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Today UPD Holding Corp. ("UPDC") announced that on September 27, 2017 it entered into a non-binding Letter of Intent with Record Street Brewing Co., a Nevada corporation ("RSB").

Today UPD Holding Corp. ("UPDC") announced that on September 27, 2017 it entered into a non-binding Letter of Intent with Record Street Brewing Co., a Nevada corporation ("RSB").

The Letter of Intent provides the basic terms for UPDC to acquire RSB pursuant to a share exchange (the "Exchange") whereby UPDC will issue convertible promissory notes that are convertible into 80,000,000 shares of its common stock to the shareholders of RSB on a prorated basis. The Letter of Intent contemplates closing the Exchange before the end of UPD’s fiscal quarter ended December 31, 2017, subject to completion of the parties' due diligence review and RSB's audit and the approval of RSB's shareholders.

RSB is a domestic beer company that presently has distribution relationships for the states of California and Nevada with Young’s Market Company and Southern Glazer Wine and Spirits, respectively. RSB contract brews through two breweries located in California and Nevada currently has plans for a flagship brewery and tap room in Reno, Nevada.

UPDC believes that the acquisition of RSB will expand its position in the specialty beverage market and complement its iMetabolic line of nutritional beverages that include specially designed powdered drinks that help facilitate weight management and nutritional health.

Mark Conte, Chairman of UPDC, said "The Board has been in discussions with various companies about its next product line acquisition and determined to stay within the specialty beverage space at this time. We believe that Record Street has the right approach to the craft beer industry with its three flagship ales and has a great vision for bringing new products to market. We feel this proposed transaction is in the best interests of our shareholders.”

Notice About Forward-Looking Statements
This news release may contain "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the accomplishment of any of our plans listed for any acquisitions, production, marketing, products or product sales, and the timeliness within which such items may be accomplished, as referred to in this news release.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with acquisitions, product development and sale. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all of the information set forth herein and that which is made publicly available by us from time to time.

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Mark Conte
UPD Holding Corp.
+1 (775) 829-7999 Ext: 112
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Mark W. Conte
UPD Holding Corp.
1 775 829 7999 112
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